Theta Network to be used for micropayments in the World Poker Tour
The purpose-built decentralized video delivery network and cryptocurrency is one of the biggest blockchain by market cap. And its adoption is booming.
Partnering with the WPT
Theta Labs today announced that World Poker Tour (WPT), the premier name in live poker entertainment, has integrated the native Theta Network protocol and Theta Fuel (TFUEL) micropayments on its platform, as per a release shared with CryptoSlate.
The firm is best known for developing Theta Network, the leading video delivery network, and THETA.tv, a decentralized live streaming platform. The THETA token is ranked 23rd in the world with a market cap of $1.9 billion and trades at $2 at press time.
Theta’s infrastructure would enable existing video platforms to drive incremental revenues and reduce content delivery CDN costs while end-users are rewarded for sharing their bandwidth to relay video on a peer-to-peer basis on any PC, mobile, Smart TV and IoT device.
And it’s coming to the World Poker Tour (WPT). As per the release, Theta’s decentralized streaming protocol directly on the WPT website with a brand new 24/7 poker channel built on its blockchain.
“World Poker Tour is excited to fully integrate Theta network peer-to-peer streaming infrastructure on our new Theta powered channel on WPT.com and provide millions of our global fans with a superior viewer experience,” said Adam Pliska, CEO of the World Poker Tour, in the regard.
Nearly 7,000 Edge Nodes now running the Theta Network! This number has nearly tripled in just the past 2 months, as the Theta Network grows stronger leading up to Mainnet 3.0. Join today here: https://t.co/wYLVKZSzRG pic.twitter.com/4jgNce2a4o
— Theta Network (@Theta_Network) January 10, 2021
The integration with Theta integration allows WPT to lower their video delivery CDN costs by 50% or more, while increasing user engagement, viewing times and monetization. This is unlike the existing providers on the market, which charge a high upfront cost for steaming.
Benefits for TFUEL holders
The development has several benefits for TFUEL holders, the token that powers the Theta blockchain. By design, Theta users can earn TFUEL tokens for sharing video content utilizing their excess bandwidth and computing resources.
For the WPT, the above allows fans to earn as much as $10-$15/month by watching their favorite poker content on their browser with no download required.
Mitch Liu, Co-founder and CEO of Theta Labs, commented in the regard:
“Theta Labs and WPT continue to lead the media and entertainment industry in the adoption of blockchain technology. This integration marks an important milestone and establishes WPT as the best and most cutting edge televised poker product in the world.”
He added that integrating Theta was a “win-win” proposition that would benefit all stakeholders in the streaming ecosystem.
And it’s a great benefit for sure.